USD/JPY recovers after US data in 40 Pips

FXStreet — The USD/JPY currency pair has been on a low level new commandments found, and jumped in the last hour as a reaction to mixed US economic data by around 40 Pips to the North.

Finally, the currency traded pair on 111,22 and to 0.55 per cent in the Minus. For bullish impetus the second estimate for U.S. gross domestic product (GDP), which showed that the economy is significantly stronger than the previously published estimate would suggest. The growth of 0.7 per cent was set to 1.2 percent. This was even better than the General market consensus (+,0,9 percent).

More macro data from the United States showed that the new orders of durable goods are for the first time in five months. By the reporting month of April the decline at -0.7 percent, which was better than expectations (-1.4 percent). Excluding the volatile orders for transportation goods, a slight Minus of 0.4 percent for April.

The mixed economic data made for a delicate recovery movement of the Greenbacks, but he seems to generally not be strong enough to be a significant counter-reaction to the recent losses. Nevertheless, the currency was able to enlarge a couple of the distance to the week low of something.

Technical Levels

The next Resistances lie at 111,50, 111,85, 112,00 and 112,20. Technical supports, however, are found in 111,00, 110,85, and 110,25.

** FXStreet News Editorial, FXStreet**

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